IEA Sees 5.7 Million Bpd Oil Supply Plunge as Gulf Recovery Slips to 2027
The agency now sees global oil supply down 5.7 million bpd in 2026 as attacks cut Saudi output and inventories drop to a 2023 low.
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6 Articles
IEA Sees 5.7 Million Bpd Oil Supply Plunge as Gulf Recovery Slips to 2027
The IEA just took another 1.4 million barrels per day out of its 2026 global oil supply outlook, and it no longer expects normal Gulf flows to return this year, according to a new agency report released on Friday. Global oil supply is now expected to fall by 5.7 million bpd in 2026, or roughly 6%, compared with the 4.3-million-bpd decline the agency forecast just one month ago. The delayed recovery of Middle Eastern production has pushed the ret…
Key takeaways According to a recent report by the International Energy Agency (IEA), the global oil supply deficit is expected to widen further in 2026. This development is primarily attributed to the failure to find a solution to the conflicts in the Middle East. As a result, the recovery of normal export volumes from the Gulf region is not happening and the […]
Presby. Today, Friday, the International Energy Agency (IEA) said that the global supply of and demand for oil would decline during the current year at a greater pace than had previously been expected, under S.S.
Attacks on tankers and energy infrastructure in the Strait of Hormuz and the Red Sea have dragged down global oil supplies. The International Energy Agency (IEA) reported that a decline in Saudi Arabian production was the main driver of the August loss. The country's crude oil supply fell to its lowest level in over 30 years, postponing expectations for a recovery in Gulf production until next year.
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